So you started a business, and now you’re ready to get paid. But with a slew of payment systems on the market, this isn’t as straightforward as it sounds.
The decision ultimately comes down to technology. If you have a Near Field Communication (NFC) reader, you can accept payments through Apple Pay, Softcard or Google Wallet Tap and Pay. If you don’t have an NFC reader, which scans a customer’s smartphone to complete the transaction, your options include Square, PayPal Here, Intuit GoPayment, Amazon Local Register and Flint Mobile.
Square Reader
Square is a leader in small business payment processing, having revolutionized the market with its launch in 2009. It’s ideal for businesses that need flexibility, such as pop-up retailers, farmers market vendors and local restaurants. To start, download the free Square Register app and sign up on Square’s website to receive a free reader that plugs into the headphone jack of your iPhone or Android smartphone.
In spring 2015, Square will offer an EMV chip card reader for $29. This upgrade will prepare your business for October 2015, when liability for fraudulent purchases will shift to merchants who don’t accept EMV chip cards. Square has also announced it will accept Apple Pay starting in 2015, CNN reports
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.PayPal Here
PayPal Here works similarly to Square, with nearly identical transaction costs. To start, download the free app and plug the card reader into your phone’s headphone jack. You can also use the PayPal Here app to track cash and check sales, accept PayPal payments and create invoices.
PayPal Here is a good option for businesses with an online store that already accept PayPal, so you can have your online and in-person payments under one system.
Amazon Local Register
Amazon Local Register also follows the Square model, with a free app and a card reader that plugs into your phone’s headphone jack. The card reader costs $10, unlike the free readers offered with Square and PayPal Here.
Choose this option if your business processes a lot of keyed-in payments. It’s more expensive to process manually entered payments across the board, but Amazon Local Register offers the lowest rate at 2.75%.
Intuit GoPayment
Intuit GoPayment is a solid option for businesses that already use QuickBooks accounting software, because the two sync up across devices. Like the other processors we’ve covered so far, it uses a free app and reader that connects to your phone’s headphone jack.
GoPayment has two payment structures. The pay-as-you-go option has swipe rates that are lower than Square, PayPal Here and Amazon Local Register, plus a $0.25 fee for every transaction. The second plan charges a $19.95 monthly fee and also has a $0.25 transaction fee, but it offers much lower transaction rates.
Flint Mobile
Flint Mobile is unique because it uses your phone’s camera to scan customers’ card numbers, so no extra equipment is required. Flint is also the only company to charge different rates for credit and debit transactions. The scan rate for debit cards is only 1.95%, while the credit card rate is higher than competitors, at 2.95%. Keyed-in transactions cost the same as swipe transactions, which is rare.
Flint is a good option for businesses that have a lot of keyed-in and debit card swipe transactions. The app also lets you send invoices, collect online payments and track cash and check payments.
Apple Pay
Apple Pay uses NFC technology and Touch ID, so customers can pay by holding their phone over a contactless reader. With customer debit and credit card information stored in their phone, payments will be processed normally through networks and banks.
Large companies like McDonald’s and Walgreens accept Apple Pay, but smaller businesses have been slow to adopt the new technology because NFC readers are expensive. Aside from that upfront investment, Apple Pay is free to use, but you’ll pay normal interchange, or processing fees, for credit card use. Apple Pay is limited to customers with an iPhone 6 or the upcoming Apple Watch.
Google Wallet
Google Wallet offers a range of ways for businesses to accept payments. If you have an NFC reader, you can process in-store transactions with Google Tap and Pay. Without the reader, you can accept payments online and in-app through Google Wallet Instant Buy.
You can also integrate your business’s loyalty programs and gift cards with Google Wallet, so customers can take advantage of them more easily.
Softcard
Like Apple Pay, Softcard uses NFC technology to process contactless payments. It only works for customers with Android or Windows phones. The Softcard app lets users search for participating companies near them, which can help drive new customers to your business. The app also stores loyalty, rewards and membership cards, and other coupons or offers.
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If you have an NFC reader, you don’t have to choose just one of these options — you will be able to accept Apple Pay, Google Wallet and Softcard at no extra cost.
As a previous NerdWallet study found, the most popular payment systems aren’t necessarily the best deal. Options such as Breadcrumb, a Groupon product designed for restaurants, might be better for your business, depending on your niche. But no matter your business type, there’s a convenient payment system out there for you.
This article originally appeared on NerdWallet.